Tariffs are taxes on imports, which make the products more expensive in the importing country. Donald Trump’s presidency has been marked by a rise in protectionism. His “America First” policy has involved introducing a number of tariffs against imports from the EU, Mexico, Canada and especially China.Encapsulating his approach, Trump tweeted in March 2018 that “when a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win”. The economic weapon of choice in this war is tariffs, aimed at discouraging imports and protecting domestic industries.Against this backdrop, we set out to explore how these tariffs influence whether people feel richer or poorer across different countries. And whether retaliation is a good strategy for the countries that have had tariffs imposed on them.Our findings suggest a calm, non-retaliatory response would limit the negative impact of this trade war. But in the case of the US and China, we have seen an escalation of aggressive tariff measures aimed at deterring each other’s imports. So where will all this end and who will be the ultimate winners and losers?